Business 09 THURSDAY 29 JULY 2021 Charting Qatar’s new digital horizon: malomatia We reiterate our commitment towards dedicating our expertise and local knowledge to provide best practises nation-wide by working towards creating sustainable local ICT services throughout the Qatari market. Mohammed Al Emadi Business | 11 Chief Operating Officer, malomatia QSE 10,708.37 +39.97 (0.37%) FTSE 100 7,016.63 +20.55 (0.29%) DOW 35,024.26 −34.26 (0.098%) BRENT $73.89 (+0.32) Ooredoo Group announces QR14.5bn revenue for H1 THE PENINSULA — DOHA He added that cost control and effi- Group EBITDA for H1 (first half) ciency measures resulted in a 13 percent Ooredoo Q.P.S.C. announced yesterday 2021 was QR6.4bn with a improvement in EBITDA for Ooredoo QR14.5bn revenue for the half year ended corresponding EBITDA margin Kuwait and 8 percent for Ooredoo June 30, 2021, showing an increase of 3 Algeria. We recorded 8 percent more percent compared to the same period of 44 percent, driven by customers for Ooredoo Oman and 9 last year. The increase was mainly driven growth in Indonesia, Qatar, percent more customers for Asiacell, by growth in its home market Qatar, Kuwait, Tunisia, and Algeria. Iraq. Ooredoo Tunisia recorded positive Indonesia, and Tunisia. Excluding FX trends for revenue (8 percent), he said. impact, revenue increased by 5 percent. The EBITDA growth rate stood “Looking ahead, we remain opti- Group EBITDA for H1 (first half) 2021 at 7 percent and at 10 percent mistic about Ooredoo Group’s growth was QR6.4bn with a corresponding excluding FX impact. potential and we believe that we have EBITDA margin of 44 percent, driven by made the right investments to continue growth in Indonesia, Qatar, Kuwait, delivering long term value for our share- Tunisia, and Algeria. The EBITDA growth holders, customers and countries in rate stood at 7 percent and at 10 percent Net Profit was impacted by an which we operate,” he added. excluding FX impact. impairment of the operation in Myanmar Ooredoo Qatar saw growth during Ooredoo’s consolidated customer Chairman of Ooredoo, Sheikh Faisal bin Thani Al Thani (left) and Managing Director due to the uncertain political envi- the period. Reported revenue was up 5 base increased by 1 percent due to of Ooredoo, Aziz Aluthman Fakhroo ronment. The loss was partially offset by percent year-on-year to QR3.7bn, driven growth in Indonesia, Oman and Iraq, off- gains from the Indonesian tower sale and by growth in post-paid services, Mobile setting the decline in other markets. of the year, with a revenue increase of 3 financial performance. The confidence leaseback. Excluding these one-offs and Financial Services Ooredoo tv, business- Group Net Profit attributable to percent, as we further progressed our of our customers resulted in an increase the FX impact, Net Profit increased by to-business revenue and higher sales of shareholders turned negative due to digital strategy, whilst effectively man- of our customer base by an additional 52 percent.” devices. EBITDA stood at QR2bn (H1 impairments (QR2,341m, mainly from aging our costs and overheads to support one percent. We continue to focus on “In Qatar, our home market, we 2020: QR1.9bn). Customer numbers Ooredoo Myanmar) partially offset by the growth of our business across our providing reliable connectivity and inno- recorded a strong performance with dropped to 3 million, reflecting the profit from the sale and leaseback of various markets. Consequently, our vative products to our customers and growth in terms of revenue (5 percent) changing demographics of Qatar during Indosat Ooredoo’s tower assets EBITDA margin improved to 44 percent, are proud to be leading in this space.” as well as EBITDA (2 percent). Indosat the period. (QR1,000m). Excluding these one offs up from 42 percent for H1 2020, despite Also commenting on the results, Aziz Ooredoo continues to deliver robust Despite the decrease in population and FX impact, net profit increased by the challenges presented to us due to Aluthman Fakhroo, Managing Director results across the board, contributing sig- and the QR3.5 million financial sanctions 52 percent. COVID-19.” of Ooredoo said: “The positive trend in nificantly towards Group growth, with that were imposed on the company by Commenting on the results, Sheikh “Our response to the pandemic and 2021 is even stronger excluding the FX a 14 percent increase in revenue and an the Communications Regulatory Faisal bin Thani Al Thani, Chairman of our robust strategy enabled us to report impact with revenue growth of 5 percent improved EBITDA margin of 50 percent,” Authority, Ooredoo Qatar recorded a Ooredoo, said: “We had a good first half solid operational and and EBITDA growth of 10 percent. Our he said. very strong performance. `P11 UDC posts QR157m net profit and QR1.2bn revenue for first half THE PENINSULA — DOHA Gewan Island with a continued focus on sought-after by local and foreign commercial activities. This strategy, investors”. United Development Company (UDC), coupled with our rich portfolio of “Looking ahead to the remainder of a leading Qatari public shareholding projects, has enabled UDC to sustain a the year, UDC will continue working on company and the master developer of diversified revenue stream”. the completion of the development plan The Pearl-Qatar and Gewan Island, Al Khater further stated: “The for the projects under implementation, announced its financial results for the financial results show positive including United School International as first half of 2021, reporting net profit of improvement resulted from sales and well as Floresta Gardens and Giardino QR157m and revenue of QR1.2bn. The leasing revenues, especially with the Village gated residential compounds at The net profit attributable to the equity share- handover of the majority of UDC’s latest Pearl-Qatar and Crystal Residence apart- holders was QR136m and basic earnings residential units at Al Mutahidah Towers ments in Gewan Island, which are aligned UDC Chairman, Turki bin Mohammed Al Khater (left), and UDC President and per share was QR0.038. at The Pearl-Qatar. Committing to high with established plans and timetables and Chief Executive Officer and Member of the Board, Ibrahim Jassim Al Othman Turki bin Mohammed Al Khater, standards of design, build quality, and which reflect our commitment to pre- UDC Chairman said: “In the first half of innovation, UDC consistently offers serving shareholders’ and investors’ 2021, UDC achieved a sustainable per- premium experiences and lifestyle values,”. Al Khater concluded. formance by balancing development opportunities across market segments; For his part, Ibrahim Jassim Al activities across The Pearl-Qatar and and its properties continue to be highly Othman, UDC President and Chief Executive Officer and Member of The Board said: “The first half results are in line with UDC’s strategy to focus on delivering projects that are cur- rently under development and as per the target completion schedules. We are equally fully committed to sales and leasing activities which serve to enhance our recurring revenues”. Al Othman stated: “The Pearl- Qatar maintains its position as a leading retail destination, as evi- denced by the signing of 38 new retail leases in the past six months, covering an area of 18,000 sqm Al Mutahidah Towers, The Pearl-Qatar including The Pearl-Qatar Com- mercial Showrooms. `P11 GCC well positioned to be leader in renewable energy DEEPAK JOHN a society to adapt to hazards. THE PENINSULA He pointed, the GCC region is very well positioned to be a leader in renewable energy resources especially solar The Gulf Cooperation Council (GCC) region is very well and wind and there are many other competing energy positioned to be a leader in renewable energy resources. sources which can be utilized in the region. “The Gulf There are many other competing energy resources which region is well positioned to adapt as they have the financial can also be utilized in the region, said an expert during a resources, labour forces and different technological virtual event. advancements. We have globally 40 types of energy Eminent panellists shed light on the regional and local sources like biofuels, different types of solar applica- perspectives during the webinar organised by the EU-GCC tions,” he said. Clean Energy Technology Network, the Environmental He said, in transitional phase, the region is very Center for Arab Towns (ECAT) and the Global Covenant well positioned to transit to renewable energy of Mayors for Climate and Energy (GCoM). resources, highlighting natural gas will play an Mohamed Abdel Raouf Abdel Hamid, Sustainability important role in next 20 years according to most Research Program Manager, GRC, Jeddah emphasised estimates. “Oil and gas results around 70 percent of on the development of climate action plans in the GCC, the combined government revenues and are 95 percent energy transition pathways and focused on urbani- of the region’s own need for energy. The outlook for sation in the GCC region. He highlighted the biophysical renewable energy is very positive which on average vulnerability that is the degree to which a physical is around 3.5 percent and there are different policies system is unbale to cope with adverse effects of climate and measures to enhance energy efficiency,” he change and social vulnerability that is the measure of added. `P11 10 BUSINESS THURSDAY 29 JULY 2021 THURSDAY 29 JULY 2021 BUSINESS 11 Barwa Real Estate reports QR533m net profit for first half THE PENINSULA — DOHA As a result of the Group’s success for the World Cup events. Development in developing a balanced real work on the two projects is expected to Barwa Real Estate Group, the leading real estate portfolio that helps to face be completed by mid-2022.